On Fri, 4 Oct 1996, John Ernst wrote:
> 4. The basic issue is : if Marx holds that tech change is
> both capital saving and labor saving in the period of
> modern industry, why would the rate of profit fall?
Tech change cannot be both labour- and capital-saving, at
the aggregate, macro level, so long as accumulation is
proceeding. (Although, as Paul C has pointed out more than
once, one cannot assume that accumulation always proceeds.)
Allin Cottrell